Welcome to our dedicated page for American Financial Group news (Ticker: AFG), a resource for investors and traders seeking the latest updates and insights on American Financial Group stock.
American Financial Group, Inc. (NYSE: AFG) is a premier insurance holding company headquartered in Cincinnati, Ohio. Through its principal subsidiary, Great American Insurance Group, AFG specializes in property and casualty insurance services, focusing on niche commercial products tailored for businesses. Established in 1872, Great American Insurance Group provides vital insurance coverage across all 50 states through a network of independent agents and brokers. Apart from property and casualty insurance, AFG also operates in the annuity market, offering traditional fixed and fixed-indexed annuities, particularly in the education, bank, and individual sectors.
Recent financial performance highlights include a third-quarter net earnings report of $177 million for 2023, reflecting a $2.09 earnings per share. Core net operating earnings rose to $2.45 per share, marking a significant 9% increase from the previous year. This robust performance was driven by higher net investment income, despite a slight decrease in underwriting profits within the Specialty Property and Casualty insurance operations.
AFG continues to show a strong annualized return on equity (ROE), with a third-quarter ROE of 15.7% and a core operating ROE of 18.3%. The company reported an overall 7% renewal rate increase, excluding workers’ compensation, and maintained its annual earnings guidance at $10.15 to $11.15 per share for the full year 2023. Additionally, AFG's Board of Directors declared a $1.50 per share special dividend, underscoring the company's commitment to returning value to its shareholders.
With significant excess capital and a strong balance sheet, AFG continues to pursue growth opportunities within its core insurance businesses while maintaining a prudent capital management strategy, including regular and special dividends and strategic share repurchases. The company's focus on specialization and deep market expertise positions it well for sustained growth and profitability in the competitive insurance landscape.
American Financial Group (NYSE: AFG) announced a special cash dividend of $12.00 to $14.00 per share, pending Board approval, following the $3.4 billion after-tax cash sale of its Annuity business to Massachusetts Mutual Life Insurance Company. The sale is anticipated to close in Q2 2021, which is expected to enhance shareholder value significantly.
American Financial Group (NYSE: AFG) announced a virtual investor forum hosted by Piper Sandler on June 8-9, 2021, featuring Co-CEOs Carl H. Lindner III and S. Craig Lindner, along with CFO Brian S. Hertzman. The investor materials will be available on AFG's Investor Relations page at www.AFGinc.com before the meetings. AFG, based in Cincinnati, Ohio, focuses on property and casualty insurance and annuities. The company is in the process of selling its annuity business to Massachusetts Mutual Life Insurance Company, with the sale expected to finalize in Q2 2021.
American Financial Group reported Q1 2021 net earnings of $419 million ($4.84 per share), a significant rebound from a $301 million loss in Q1 2020. The results reflect $213 million in after-tax non-core items. AFG's discontinued annuity operations contributed $152 million ($1.76 per share) to earnings. Core net operating earnings rose to $206 million ($2.38 per share) from $125 million in Q1 2020. The company's book value per share reached $78.53 with an impressive 29.9% annualized return on equity.
American Financial Group (NYSE: AFG) will release its 2021 Q1 results on May 4, 2021, post 5:00 p.m. ET, accessible on www.AFGinc.com. A conference call to discuss the results is scheduled for May 5, 2021, at 11:30 a.m. ET. Participants can join via telephone (1-877-459-8719) or the internet (link). An archived webcast will be available until May 12, 2021. AFG is an insurance holding company focused on specialized commercial insurance and annuity sales, recently announcing the sale of its annuity business to Massachusetts Mutual Life Insurance Company.
American Financial Group (NYSE: AFG) has declared a regular dividend of $0.50 per share for its common stock. This dividend is scheduled for payment on April 26, 2021, to shareholders on record as of April 15, 2021. AFG is primarily involved in property and casualty insurance and the sale of traditional fixed and fixed-indexed annuities. The company is in the process of selling its annuity business to Massachusetts Mutual Life Insurance Company, with the deal expected to close in Q2 2021.
On March 23, 2021, Envestnet (NYSE: ENV) and Fiduciary Exchange LLC (FIDx) announced a partnership with Great American Life Insurance Company. This collaboration allows Great American's annuity solutions to be accessible to financial advisors through multiple platforms, including Envestnet Insurance Exchange and FIDx's Protection Intelligence. This move enhances FIDx's product offerings, catering to the need for secure retirement solutions. The partnership reflects a trend toward integrating insurance products into holistic financial planning for clients.
American Financial Group (NYSE: AFG) announced participation in the 2021 AIFA Virtual Conference on March 2, 2021. Co-CEOs Carl H. Lindner III and S. Craig Lindner, along with CFO Brian S. Hertzman, will attend without a formal presentation. AFG will host virtual investor meetings, with relevant materials available on their Investor Relations page before the conference at www.AFGinc.com. American Financial Group, based in Cincinnati, focuses on property and casualty insurance and annuities through Great American Insurance Group.
American Financial Group (NYSE: AFG) announced participation in the 22nd Annual Credit Suisse Virtual Financial Services Forum on February 25, 2021. Co-CEOs Carl H. Lindner III and S. Craig Lindner, along with CFO Brian S. Hertzman, will engage in investor meetings, although no formal company presentation will occur. Investor materials will be available on their Investor Relations page prior to the conference. AFG focuses on property and casualty insurance as well as traditional annuities, operating through Great American Insurance Group since 1872.
American Financial Group (NYSE: AFG) reported a strong performance for Q4 2020 with net earnings of $692 million ($7.93 per share), up from $211 million ($2.31 per share) in Q4 2019. AFG's results included significant after-tax non-core gains of $423 million ($4.84 per share). Core net operating earnings increased to $269 million ($3.09 per share) compared to $203 million ($2.22 per share) the previous year, driven by improved underwriting profit in the Specialty P&C segment. The company also announced an exceptional Q4 combined ratio of 86.2%. AFG paid a special dividend of $2.00 per share during the quarter.
American Financial Group (NYSE: AFG) announced participation in the Bank of America Securities 2021 Virtual Insurance Conference on February 10, 2021. Co-CEOs Carl H. Lindner III and S. Craig Lindner, along with CFO Brian S. Hertzman, will attend. While there is no formal company presentation, AFG plans to host several investor meetings during the event. Relevant investor materials will be available on AFG's Investor Relations page prior to the conference.
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